Ethereum Spot ETFs Experience Highest Daily Inflows
Institutional demand for Ether spot ETFs is gradually increasing. Yesterday, total inflows into the U. S. Ether #Etf reached a staggering $320 million, surpassing daily #bitcoin ETF ast3 inflows by $332 million.
#Ethereum ETFs have experienced significant inflows for 5 consecutive trading sessions. According to Farside Investors, on Friday, the BlackRock ether ETF (ETHA) alone saw inflows of ¥25,000 million, while FETH Fidelity saw inflows of ¥7,910 million.
According to Nate Geraci, president of ETF store, total inflows into the BlackRock ether fund (ETHA) have exceeded 77 billion since its launch on May 20. This achievement underscores strong investor demand and growing institutional investor interest in Ethereum as a major digital asset.
Conversely, inflows into the BlackRock Bitcoin ETF (IBIT) reached ¥1 billion 3,750 million yesterday. This indicates that the conversion of capital from bitcoin (BTC) to Etherium (ETH) has begun.
While inflows into the Ethereum ETF are on the rise, inflows into the bitcoin ETF have been declining recently. Earlier this week, the BlackRock Bitcoin ETF (IBIT) experienced negative inflows for two consecutive days. In addition, according to the latest data, BlackRock funds from traditional portfolios purchased millions of IBIT shares.
Will the price of ETH rise to £5,000?
Market analysts are optimistic about the price of Ethereum, expecting a new all-time high above 5,000 Ethereum. Currently, the price of ETH has risen by 4%, overcoming the critical resistance of $3,700, and speculators have set their immediate target in the range of $4,000 to $BTC The price chart of Ethereum confirms a breakout from the inverse head-and-shoulders pattern, indicating the potential for future bullish momentum.
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